Latest news with #KIIFB
Time of India
12 hours ago
- Business
- Time of India
Landowners to receive compensation next week
T'puram: After years of delay, the pending compensation for landowners who surrendered their property for Kodinada-Vazhimukku stretch of Karamana-Kaliyikkavila Road development project is finally set to be disbursed. As many as 52 landowners are expected to receive their dues by next week. Kerala Infrastructure Investment Fund Board (KIIFB) approved a compensation package of Rs 104 crore, paving way for the next phase of the road development. The disbursal comes after sustained pressure from locals, public representatives and a renewed push by govt to expedite stalled infrastructure projects. Confirming the development, Parassala MLA C K Hareendran said govt assured that compensation process will be completed without further delay. "I received a clear assurance from the state govt that the compensation amount will be disbursed next week," Hareendran said. "The KIIFB already sanctioned the amount and all procedural steps have been completed. This is a major relief for the landowners," he added. The 1.5km Kodinada to Vazhimukku stretch is a critical segment of the wider Karamana-Kaliyikkavila road development project, which aims to improve connectivity in southern region of the city and decongest the busy NH-66 corridor. With the compensation issue nearing resolution, govt is preparing to float the construction tender for this stretch in July. Officials said the groundwork for tendering has already begun and once compensation reaches the landowners, PWD will initiate the formal process. Karamana-Kaliyikkavila project saw multiple delays since its announcement, mainly due to land acquisition hurdles and fund disbursal bottlenecks. Despite the delay in compensation, demolition work already commenced along the project stretch, starting from Vazhimukku towards Balaramapuram. A contractor based in Kunjalumoodu is currently handling the demolition, with buildings being razed at both the Balaramapuram and Kodinada ends.
Time of India
15 hours ago
- Business
- Time of India
Nod for additional land acquisition for Chilavannoor Bund Road bridge
Kochi: Expediting land acquisition procedures for reconstruction of Chilavannoor Bund Road bridge, revenue department issued an order approving recommendation of expert committee report for additional land for the project in old bridge area. Tired of too many ads? go ad free now An additional 0.1127 hectares in Poonithura village will be acquired for construction work of approach road and bridge. The project is being implemented as part of Integrated Urban Regeneration and Water Transport System (IURWTS) project of Kochi Metro Rail Ltd (KMRL), and state govt has already accorded sanction for the revised tender of Rs 38.77 crore for the bridge. Earlier, KIIFB accorded sanction for the reconstruction at an estimated cost of Rs 32.58 crore. Following this, KMRL published tender and work was awarded to ULCCS. Although initial construction work, including piling, commenced, the project required additional land, prompting the latest decision to acquire more land to ensure the project's completion. The narrow bridge is one of the major causes of stagnation and flooding in and around the city. New bridge will be an iconic 90m span bridge, which is expected to reduce flooding in the city.
New Indian Express
2 days ago
- Business
- New Indian Express
Kerala to form special purpose vehicle to tap full potential of Vizhinjam port
THIRUVANANTHAPURAM: A new government Special Purpose Vehicle (SPV) will be established to implement the Vizhinjam-Kollam-Punalur Growth corridor project, aimed at harnessing the development potential unlocked by the Vizhinjam international port. Finance Minister K N Balagopal said that a public limited company fully owned by KIIFB will be set up. The company will help bring in investments and make land available for businesses in the corridor region. The finance minister said the project will bring in investments of over Rs 30,000 crore and create thousands of new jobs. KIIFB has proposed two names for the company – KIFCOR Ltd and KIFDAC Ltd. The name approved by the Registrar of Companies will be used. The formation and registration of the company will be handled by KIIFCON, the consultancy wing of KIIFB. The new company will follow models like the Andhra Pradesh and Telangana industrial infrastructure corporations. The goal is to create a strong base for industries, logistics parks and small business clusters in the region. The corridor will connect through three major roads – the Kollam-Shenkottai NH, the Vizhinjam-Kollam NH and the Punalur-Nedumangad-Vizhinjam Road. It also includes the Kollam-Shenkottai railway line. The project aims to improve transport, attract private investment, and create more jobs. It will also make it easier to reach important locations and improve the quality of life in the nearby areas. Plans include boosting agriculture through better farming practices and promoting industries that depend on farm products. The corridor could become a hub for IT and space-related services. It is also expected to become a major trade and business centre.
New Indian Express
6 days ago
- Business
- New Indian Express
Maharaja's College, a living chapter in nation's history, says CM; launches one-year-long fete
KOCHI: Maharaja's College, Ernakulam is not just an institution, it's an emotion, said Industries Minister P Rajeeve, as Kerala's legendary campus launched its post-150th-year platinum jubilee celebrations on Tuesday. At the heart of the celebrations was the inauguration of a grand new auditorium funded by the Kerala Infrastructure Investment Fund Board (KIIFB), a fitting tribute to the legacy and future of one of India's most iconic colleges. Chief Minister Pinarayi Vijayan, who formally launched the year-long celebration, hailed the college as a bastion of Kerala's political, cultural, and intellectual development. 'Maharaja's is not just a college. It is a living chapter in the nation's history,' Pinarayi said. 'From leading the khadi movement to championing Hindi language propagation, the students and faculty here have always stood at the forefront of national and social transformation.'
Time of India
7 days ago
- Business
- Time of India
Chief minister inaugurates construction of Aluva market
Kochi: Chief minister Pinarayi Vijayan inaugurated the construction of the new Aluva market on Tuesday. In his address, Vijayan stated that joint initiatives by Centre and state govts exemplify cooperative federalism. The total cost of the project is Rs 48.32 crore, where the Centre sharing Rs 28.94 crore and state providing Rs 19.29 crore. The three-storey market will span 1.82 lakh sq ft and will include 88 shops, a restaurant, supermarket, cold storage for meat and fish and a sewage treatment plant. The project is expected to be completed by Uralungal Labour Contract Co-operative Society within 11 months. Vijayan said Aluva and nearby areas have already benefited from key infrastructure initiatives like the national highway development and the Gail pipeline project. "Under KIIFB, projects worth Rs 300 crore are underway, including Rs 10 crore allocated to build road access to the market," said Vijayan. Union minister of state for fisheries George Kurian and fisheries minister Saji Cherian were present. Benny Behanan, MP, unveiled the market's blueprint.
